YRC Worldwide CEO Welch: Results, turnaround are energizing
Austin Alonzo Kansas City Business Journal February 12, 2013 View the original piece YRC Worldwide CEO James Welch is pleased to see the company finish the year strong after starting with a $49 million operational loss in the first quarter. On Friday, the Overland Park-based company (Nasdaq: YRCW) reported positive annual consolidated operating income for the first time in six years. Welch said the positive annual results reflect a shift in philosophy to a “laser”...
3 years after closing, Chicago Ridge truck terminal could reopen
Mike Nolan Southtown Star February 08, 2013 View the original piece More than three years after it closed its Chicago Ridge terminal, trucking company YRC is taking a look at reopening it. The company, formerly called Yellow Roadway, in December filed an application for a business license to re-establish the terminal, 10301 Harlem Ave., according to George Witous, Chicago Ridge village attorney. In a memo sent last month to Chicago-area employees of YRC Freight, the...
NLRB Office of General Counsel finds NY bus strike not unlawful
NLRB February 01, 2013 View the original piece The NLRB Office of General Counsel has found that a strike by union bus operators against a group of New York school bus companies does not violate the National Labor Relations Act because the union has a primary labor dispute with the employers. In a charge filed with the NLRB Brooklyn office on January 16, the group of 20 bus companies alleged that a strike called by...
Arkansas Best Corp. Reports Loss, Seeks End to Teamsters Talk
Arkansas Business February 01, 2013 View the original piece ABF Freight System Inc. expects contract negotiations with the International Brotherhood of Teamsters to be resolved by a March 31 deadline, but the CEO of its parent company said Wednesday that the firm is exploring options in case a new agreement can't be reached. Judy McReynolds, CEO of Arkansas Best Corp. of Fort Smith (Nasdaq: ABFS), said Wednesday during the trucking and logistics company's fourth-quarter earnings...
National UPS Conference Call
Make UPS Deliver January 31, 2013 View the original piece The Teamsters Chief Negotiator at UPS and General Secretary-Treasurer Ken Hall has scheduled a conference call for Sat., Feb. 2 to give an update on national contract negotiations. Call Details:Saturday, February 212:00 p.m. EasternDial-in number: 855-269-4484 Click here to download the official notice.
UPS Posts Record Earnings
Make UPS Deliver January 31, 2013 View the original piece January 31, 2013: UPS announced record Fourth Quarter and Annual adjusted earnings in a company statement today. UPS made profits of $2.05 billion excluding a big one-time pension accounting charge. The company's fourth quarter profits looked like a loss thanks to an accounting gimmick. UPS took a massive one-time $3 billion "non-cash charge" on company pension and benefit plans. This charge did not affect the...
UPS books loss after big pension charge, sees 2013 profit up
Reuters January 31, 2013 View the original piece United Parcel Service Inc reported a net loss in the fourth quarter after a $3 billion one-time charge from pension accounting, and forecast that 2013 earnings would rise 6 percent to 12 percent. UPS, the world's largest parcel delivery company, on Thursday posted a fourth-quarter net loss of $1.75 billion, or $1.83 per share, after the non-cash charge. A year earlier, it earned $725 million, or 74...
Pension charge pushes UPS 4Q results into the red
The Associated Press January 31, 2013 View the original piece UPS is reporting a fourth-quarter loss of $1.75 billion because of a $3 billion accounting charge for pension liabilities. Without the pension item, UPS said Thursday that it would have earned $2.05 billion, or $1.32 per share. That includes a loss of 5 cents per share from Hurricane Sandy. Analysts had expected UPS to post adjusted earnings of $1.38 per share. The company says it...
School bus companies meeting with union Monday
Ben Chapman New York Daily News January 26, 2013 View the original piece School bus companies will meet with the union Monday to discuss the crippling strike that has left thousands of students without rides to class - but the city won’t come to the talks. Workers for Amalgamated Transit Union 1181 walked off the job last Wednesday because the city cut job protections for senior workers from new contracts. Mayor Bloomberg called for the...
Teamsters, ABF continue labor negotiations
Austin Alonzo Kansas City Business Journal January 21, 2013 View the original piece Negotiations between ABF Freight Systems Inc. and the International Brotherhood of Teamsters continued in Kansas City this week, and the two parties are no closer to an agreement, a release from the union said. The parties recessed on Wednesday afternoon after making little progress toward a deal. Talks between ABF, a subsidiary of Arkansas Best Corp. (Nasdaq: ABFS), and representatives of ABF's...